There is a bit of giving in the current real estate landscape in Canada. While properties are available in the wake of big company closures last year, they are getting snatched up pretty quickly and those that remain can be challenging to offer for rent due to several factors. You would be wise to act fast when snatching up commercial properties before all the good ones are out.
How exactly would you know that real estate is available for you to grab? Well, these are some of the help you can get:
Brokers
There is never a dull moment when it comes to Canadian real estate. Every day, there are countless inquiries on available properties, especially from those who are thinking of opening a business in the city of Vancouver.
Foreign investors are also plentiful, making it even more challenging for you to DIY the process of buying or renting commercial real estate for your business. It’s challenging, but it’s not impossible if you have the help of brokers who can match you with the right size of property for your business’ needs. Whether you are starting a business or you are looking to expand, brokers are a great source of information on what properties have recently become available.
News Sites
It’s hard to miss news of big companies that fall upon hard times. Financial struggles are plastered all over news pages. You’re not looking out for big names just to gloat, however. You are looking for information on stores they have closed or are planning to close.
Even before the property is listed on the market, if you already know it’s going to be up there soon, you can start making inquiries. Sears and Payless have both filed for bankruptcy and no one can expect those advantageous store locations to remain vacant. You may think there are hundreds of them and it is impossible for all those locations to be occupied within a short span of time, but when it comes to business, you should not be leaving their availability up to chance. The sooner you make inquiries, the better.
Up-and-Coming Communities
Vancouver is a pretty established city, but within it, there are communities that are just on the verge of commercialization. And where there are plans, there are opportunities. No land developer will be planning a community without opening up lots for commercial use. This is the whole point of their development: to create places where residents can enjoy the convenience of being near commercial establishments, so developers earn from both residential and commercial renters. Your business could be one of those establishments and the developer may even help you with the financing to afford to lease.
A brief look at Canadian real estate will not be enough to have a clear idea of what you should do and when you should do it. As it is in business, you must strike while the iron is hot. Look out for opportunities that present themselves and act fast before someone else takes a wonderful investment option away from you.
